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Fly News Breaks for April 1, 2016
USCR
Apr 1, 2016 | 07:39 EDT
Citi analyst Scott Schrier raised his price target for U.S. Concrete to $70 after spending time with management. The company is not a national concrete producer since it focuses on "consolidating strong markets that are well-structured with significant barriers to entry," Schrier tells investors in a research note. He believes the "valuation disconnect" at current share levels provides an opportunity for multiple expansion. The analyst keeps a Buy rating on the name.
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